§ 403
Chapter XIX — Collection And Recovery Of Tax
Liability for payment of advance tax
Income-tax Act, 2025
Advance tax must be paid during the financial year on the assessee's current income, which is the total income liable to tax for that year. However, an individual resident who is 60 years or older and has no income from business or profession is exempt from this requirement.
📜 Official text of the section +
403. (1) Advance tax shall be payable during any financial year in respect of the
current income of the assessee, as per the provisions of this Part.
(2) For the purposes of this Part, “current income” of a tax year means the total
income of the assessee which would be chargeable to tax for such tax year.
(3) The provisions of sub-section (1) shall not apply to an individual resident in
India, who—
( a) does not have any income chargeable under the head “Profits and gains
of business or profession”; and
( b) is of the age of sixty years or more at any time during the tax year.
Conditions of liability to pay advance tax.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.